The Korea Herald

Samsung cuts price for Galaxy Tab WiFi version

Mar 8, 2011

Samsung Electronics Co. will launch a WiFi-only version of the Galaxy Tab in the domestic market, which is one-third cheaper than its predecessor, the company said Tuesday. Samsung Electronics started to receive pre-orders for the WiFi-only Galaxy Tab at the price of 600,000 won ($536) this week through its online Web site and retail shops in Korea. It did not disclose the launch date. The WiFi...
Exports of used cars drop in 2010: KOTRA

Mar 8, 2011

Korea’s exports of used vehicles dropped in 2010 from a year earlier, a local trade body said Tuesday, despite a large boost in overseas sales of new Korean cars last year. The country shipped 239,556 pre-owned vehicles to overseas countries last year, down 9.4 percent from 264,742 units a year earlier, according to the Korea Trade-Investment Promotion Agency (KOTRA). Revenue from overseas sale...
Citigroup cuts KOSPI mid-year target

Mar 8, 2011

Korea’s KOSPI Index, which posted its biggest monthly decline in two years last month, had its mid-year target cut at Citigroup Inc. on concern higher oil prices will hurt corporate profits. The mid-year estimate for the benchmark stock gauge was reduced to 2,050-2,150 from 2,200-2,300, Citigroup analysts led by Michael Chung wrote in a report dated yesterday. The brokerage increased its Brent ...
Kia China venture to enhance research

Mar 8, 2011

Kia Motors Corp.’s China venture will invest about $150 million on a research and development center to produce its own brand of cars, according to the parent of the Chinese partner. The venture, Dongfeng Yueda Kia Motors Co., will start construction this year and will complete building the center by 2015, Jiangsu Yueda Group Co.’s Vice Chairman Shao Yong said in an interview in Beijing. Automa...
GS head stresses technology, mutual growth

Mar 8, 2011

GS Group chairman Huh Chang-soo stressed the significance of original technology and mutual growth with suppliers on Tuesday during his visit to a GS Caltex lubricants plant in Incheon, Gyeonggi Province. “GS has been showing a strong performance overseas with its solid base in the domestic market. I believe we can become a leading global firm if we secure original technologies with which we can...
Yuhan-Kimberly gets organic certification

Mar 8, 2011

The Anyday feminine hygiene product brand from Yuhan-Kimberly has received eco-friendly certification for five consecutive years. The Well-being Certification, granted by Korea Management Association Registrations & Assessments Inc., recognizes a domestic product’s functionality, safety and its environmental compatibility. As well as existing Anyday products, new Anyday Organic Cotton, made who...
‘China faces 60% risk of bank crisis by 2013’

Mar 8, 2011

China faces a 60 percent risk of a banking crisis by mid-2013 in the aftermath of record lending and surging property prices, according to a Fitch Ratings gauge. Fitch sees the risk of “holes in bank balance sheets” should a property bubble burst, Richard Fox, a London-based senior director, said in a phone interview on March 4. The risk assessment is from a macro-prudential monitor used by the ...
Car output rise in February

Mar 7, 2011

Output of five automakers in Korea rose 6.4 percent on-year in February with strong demand at home and abroad also keeping their sales humming, an industry group said Monday. Led by industry leader Hyundai Motor Co. and its affiliate Kia Motors Corp., the automakers produced 297,350 vehicles last month, compared with 279,368 units a year earlier, according to the Korea Automobile Manufacturers A...
Asian economies in danger of ‘overheating’

Mar 7, 2011

Experts warn subsidy spree may store up trouble for the future KUALA LUMPUR (AFP) ― As prices of food and fuel reach historic highs, Asian nations with a wary eye on Middle East uprisings are doling out subsidies that experts warn are storing up trouble for the future. Robust Asian economies largely escaped the global downturn, and are now in danger of overheating, stoked by low interest rates,...
Social commerce giant Groupon to launch here

Mar 7, 2011

Groupon, a U.S.-based social commerce firm, announced Monday that it will launch here next Monday further fanning competition over the increasingly popular form of cyber-shopping. Ahead of its official launch, it said it would organize a pre-launching event through its website (www.groupon.kr) which offers 1,000 won of Groupon cash to its e-mail subscribers. The figure of subscribers, however, m...
Korea ups rare earth reserve target

Mar 7, 2011

South Korea is to increase its rare earth reserves to around 1,500 tons by 2014 amid fierce global competition to ensure a stable supply. The new target for a group of 17 scarce metals key to mobile devices, electric vehicles and other high-tech products, would meet the local industrial demand for 100 days, the Ministry of Knowledge Economy said Monday. The government initially set the goal at ...
POSCO picked as most admired firm

Mar 7, 2011

The world’s fourth largest steelmaker POSCO ranked highest among South Korean firms in the latest world’s most admired companies list from the U.S. business magazine Fortune. The rankings are based on an analysis of 667 companies from 32 nations that reviewed nine categories including financial stability, innovation and human resource management. With a score of 7.21, POSCO received the highest...
Hyundai Heavy develops robot for joint surgery

Mar 7, 2011

Hyundai Heavy Industries and local venture firms have succeeded in localizing high-tech robotic equipment for artificial joint operations, the company said Monday. The country’s top builder developed bodies and controllers for the “Robodoc” in a joint project promoted by the Ministry of Knowledge Economy in July 2009. Made by local robotics venture Curexo Inc., the Robodoc is the only robotic s...
Toyota said to focus on emerging market growth plan

Mar 7, 2011

Toyota Motor Corp. which traditionally gets a majority of its profit in the U.S., will outline a strategy for growth in emerging markets in a 10-year plan the Japanese automaker is set to release this week, two people familiar with the plan said. Toyota also plans to cut two vice-chairman positions and shrink its board to 17 or fewer members as part of the biggest management shakeup in eight yea...
LVMH to take control of Italy’s Bulgari: report

Mar 7, 2011

LVMH Moet Hennessy Louis Vuitton SA, the world’s largest maker of luxury goods, will take a controlling stake in Bulgari SpA, the Financial Times reported, citing an unidentified person close to the deal. The Bulgari family will swap its 51 percent holding for a stake in LVMH in a deal to be announced Monday, the FT reported. LVMH will offer a “significant” premium to Bulgari’s market value of 2...